Management

Management is the art and science of accomplishing certain goals with the usage and manipulation of human financial, technological and natural resources. Management also refer to individual or individuals who make decisions about how a business should run. It is often included as a factor of production along with machines materials and money. Management is also called Business Administration and schools that teach management are usually called Business Schools.

Basic functions of management – 

1. Planning – Deciding what needs to be done and generating plans for action
2. Organizing – Successful implementation of plans with the optimum use of the resources
3. Staffing – Job Analyzing, recruitment, and hiring individuals for appropriate jobs
4. Leading – Determining what needs to be done in a situation and getting people to do it
5. Controlling – Monitoring, checking progress against plans, which may need modification based on feedback
6. Motivating – The process of stimulating an individual to take action that will accomplish a desired goal